Blockworks data shows user-driven network activity surpassed peaks tied to the $TRUMP and $ANSEM memecoin launches, while weekly application revenue rose 32% to $23.9M.
Solana's onchain activity reached a new high last week, with non-vote transactions topping 1 billion as trading picked up even amid weak asset prices and uneven market sentiment. The metric, which excludes validator consensus messages and more closely reflects user activity, surpassed earlier peaks tied to January 2025's $TRUMP memecoin launch and the early July debut of $ANSEM. Memecoins remain a core driver of network usage, accounting for 28% of Solana's weekly DEX (decentralized exchange) volume, according to Blockworks data. Revenue trends are also improving. Solana's weekly application revenue rose 32% from early April lows to $23.9 million last week, and daily revenue hit $4.44 million on August 4, its highest reading in six months. Pump.fun continues to lead application revenue, holding the top spot for 25 of the last 26 months, but newer social-first trading apps appear to be gaining ground. Blockworks data shows FOMO generated more than $315,000 in revenue over the last 24 hours, overtaking established memecoin trading terminals such as Axiom and signaling a shift in how traders engage with Solana's memecoin market.